PharmaTher Advances Strategy to Build Next-Generation Ketamine Franchise for Neuropsychiatric Disorders; Secures Exclusive Rights to Evaluate and License Patented Long-Acting Ketamine Program

Toronto, Ontario--(Newsfile Corp. - November 17, 2025) - PharmaTher Holdings Ltd. (OTCQB: PHRRF) (CSE: PHRM) (the "Company" or "PharmaTher"), a specialty life sciences company focused on unlocking the therapeutic potential of ketamine for neuropsychiatric disorders, today announced that it has entered into an Exclusive Evaluation and Option-to-License Agreement (the "Agreement") with Oakwood Laboratories, LLC ("Oakwood") for the development and commercialization of Oakwood's patented long-acting injectable ("LAI") ketamine program.

Fabio Chianelli, Chairman and CEO of PharmaTher, commented: "The long-acting ketamine program is a pivotal step in our strategy to build the most comprehensive ketamine franchise in neuropsychiatric disorders. We believe a convenient, durable LAI profile can expand ketamine's clinical utility in treatment-resistant depression and major depressive disorders, improve adherence, and open new indications where steady exposure is critical. Importantly, this program leverages and extends the scientific, clinical, and regulatory foundation we have built with ketamine over the past several years, ensuring that our prior investments continue to compound while supporting a clear path to value-creating catalysts."

Next-Generation Ketamine Franchise

The LAI ketamine program is designed to anchor a next-generation ketamine franchise that is clinically differentiated, indication-rich, and development-efficient. The key elements of this strategy aim to combine innovative delivery technology with high-value neuropsychiatric indications and a streamlined regulatory path to drive meaningful long-term value.

• Differentiated delivery: Leverages Oakwood's proven sustained-release microsphere platform designed to enable subcutaneous or intramuscular dosing with controlled release over multiple weeks to months.

• Therapeutic breadth: Initial development to focus on neuropsychiatric indications, including treatment-resistant depression (TRD), major depressive disorders, and Parkinson's disease-related levodopa-induced dyskinesia (LID).

• Regulatory efficiency: The LAI program is intended to pursue a 505(b)(2) pathway, leveraging established ketamine safety and efficacy literature where appropriate, with the goal of an efficient clinical development plan.

LAI Ketamine Market Opportunity in TRD

A differentiated LAI ketamine for TRD has the potential to redefine the standard of care compared with the currently approved intranasal option, SPRAVATO®, which require frequent in-clinic dosing and intensive monitoring. As of the third quarter of 2025, SPRAVATO® generated approximately $1.64 billion in trailing twelve-month (TTM) sales, and Johnson & Johnson projects annual sales between $3 billion and $3.5 billion by 2027 to 2028.